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SCS > SEC Filings for SCS > Form 8-K on 17-Jul-2013All Recent SEC Filings

Show all filings for STEELCASE INC

Form 8-K for STEELCASE INC


17-Jul-2013

Change in Directors or Principal Officers, Financial Statements and Exhibits


ITEM 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b)On July 17, 2013, James P. Hackett announced his intention to retire from his position as Chief Executive Officer of Steelcase Inc. (the "Company"), effective March 1, 2014. From March 1, 2014, Mr. Hackett will continue as an employee of the Company, serving as Vice Chair, a non-executive officer role which will report to the Board Chair, until his retirement from the Company effective February 27, 2015. A copy of the Company's press release announcing Mr. Hackett's retirement is furnished as Exhibit 99.1.

(e)On July 17, 2013, the Company and Mr. Hackett entered into a letter agreement confirming (1) Mr. Hackett's retirement as Chief Executive Officer on March 1, 2014, (2) Mr. Hackett's role as Vice Chair for the period from March 1, 2014 to February 27, 2015 and the related compensation to be received by Mr. Hackett, and (3) Mr. Hackett's retirement from the Company effective February 27, 2015. As Vice Chair, Mr. Hackett will receive an annual base salary of $1,000,000 and a short-term award under the Steelcase Management Incentive Plan with a target equal to 60% of his base salary, but Mr. Hackett will not receive any long-term incentive compensation awards, will not be subject to stock ownership guidelines and will no longer be a participant in the Steelcase Inc. Executive Severance Plan. A copy of the letter agreement between Mr. Hackett and the Company dated July 17, 2013 is attached as Exhibit 10.1 and incorporated herein by reference.



ITEM 9.01. Financial Statements and Exhibits.

d)  EXHIBITS.

       Exhibit
        Number    Description

         10.1     Letter agreement dated July 17, 2013 between Steelcase Inc. and
                  James P. Hackett

         99.1     Steelcase Inc. Press Release dated July 17, 2013


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